New Americo Eagle smokers as non smokers a waste of time!!

[WinoBlues]

One thing I get with the DM card FE people is that many of them want more coverage, but they do not want two payments coming out. I had a woman two weeks ago who has a 10K Trans policy that is four years old. She wanted to cancel it and get one policy for $25K. I convinced her that she would be better off keeping the Trans and adding a separate $15K policy (out of contestability, lower price for that $10K than she will pay to replace, etc.).

This week she called and asked me how to cancel the old Trans and get $25K with the company I placed her with! I was in her building visiting another prospect so I stopped by to see her and explained again why she should keep both.

If she sends another card back and someone else shows up, I'm sure she will be easily sold on cancelling both of her policies and replacing them with one for $25K ... and probably will not mark the new app as a replacement.

All that being said, I would be hard pressed not to replace the entire Americo policy when the time comes under this scheme. I just think this is really a gimmick, and not at all in the proposed insured's best interest.

I hope the first time one of these Americo policies actually pays out during the contestability period someone comes here to tell us (and vice versa - I hope we hear about all those cases were the smoker got a non-smoker rate and the company finds a reason not to pay a two year or less death claim.

I just did a couple similar deals. One made sense. Assurity WL on a young guy with a GPO. It made more sense to rewrite the Assurity to a face amount that he could get preferred. Long time client. The other, also a long time client, that has bought and lapsed a grip of policies. Wanted one policy vs stacking. I explained the benefits of keeping the old ones. Nope! I wrote one and replace he's, her's and converted the daughter's Assurity term. I strive to do what I believe to be the right thing. But at the end of the day, they are adults.

Now, do i think there are agents that flat replace everything they can, yup. Regardless if it is best for their customer.

 

[dabulls]

The best is when you find someone with a way overpriced policy, say 7 months old. You offer to replace it saving them 40% a month and they say "but I've already paid a lot into this one. I'd be losing all of that money I paid!"

 

[Baseball7]

Everything you've bad bought you the right to this upgrade

 

[DayTimer]

I strive to do what I believe to be the right thing. But at the end of the day, they are adults.

I have had a few where I decided that if the prospect was going to replace the policy anyway, I may as well be the guy to get paid. I'm not the only agent out there to be sure. And manyof these folks send in every card mailed to them (I know because I have quite a few "leads" that I have paid for three or four times over). And if they're mailing my cards back to me, they are mailing other agent's cards back as well.

 

[WinoBlues]

I probably lose some to

I have had a few where I decided that if the prospect was going to replace the policy anyway, I may as well be the guy to get paid. I'm not the only agent out there to be sure. And manyof these folks send in every card mailed to them (I know because I have quite a few "leads" that I have paid for three or four times over). And if they're mailing my cards back to me, they are mailing other agent's cards back as well.

replacement. But not many. I have not gotten a replacement notice in a very long time. I do get several calls a month from clients that got a cards in the mail. The cards and TV commercials are a net win for me.

 

[HoosierLife]

The best is when you find someone with a way overpriced policy, say 7 months old. You offer to replace it saving them 40% a month and they say "but I've already paid a lot into this one. I'd be losing all of that money I paid!"

Always quote them the same premium. Saving $10-$12 doesn't sound as good as "getting $4000 in insurance for free."

"Now don't worry Mrs Jones, we will handle everything for you. You won't have to do a thing. Now did you want all $14,000 to go to Shaniqua or did you want to split some of the extra death benefit betwee her and Lashawn?"

Always capture all the premium. Unless their WHY for sending the card is was "this policy is too expensive for me."

 

[myinsurebiz]

Always quote them the same premium. Saving $10-$12 doesn't sound as good as "getting $4000 in insurance for free."

"Now don't worry Mrs Jones, we will handle everything for you. You won't have to do a thing. Now did you want all $14,000 to go to Shaniqua or did you want to split some of the extra death benefit betwee her and Lashawn?"

Always capture all the premium. Unless their WHY for sending the card is was "this policy is too expensive for me."

Most def . . .

McDonalds does this best - "Fries with that . . ."